EUR/CAD – 1H – SELL

The currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards

A descent down to the next support level at 1.61154 will persist.

Caution: A possible reversal of the trend in the direction of the resistance level at should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Northern Doji’ candlestick pattern is discovered. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.61838 – 1.61829 – 1.61733 – 1.61154 – 1.61242 – 1.61219 — 65.062486593132 – 60.53520060064 — 71.299900644548 – 61.984695464863 – 76.512914900637 – 69.355261229695

Trading Signals: FOREX – EUR – EUR/CAD – CAD – Northern Doji – Inverse Head and Shoulder chart pattern – –